Enter the following transactions in the books of 'Seamus McKee' for November (use T accounts). 1. Nov
Question:
Enter the following transactions in the books of 'Seamus McKee' for November (use T accounts).
1. Nov Started business with £10,000 in the bank
2. Nov Paid for advertising by cheque: £130
3. Nov Paid for stationery by cheque: £50
4. Nov Bought goods on credit from Red - £900
5. Nov Sold goods for cash: £300
6. Nov Paid for insurance in cash: £8
8 .Nov Bought machinery on credit from Black: £700
9. Nov Paid for machinery expenses in cash: £150
10. Nov Sold goods on credit to Flanagan: £800
11. Nov Returned goods to Red: £200
12. Nov Paid wages in cash: £20
13. Nov Received cheque from Flanagan: £500
15. Nov Paid rent by cheque: £200
20. Nov Bought stationery on credit for £60 from Hutchinson
21. Nov Paid Black £700 by cheque
30. Nov Paid Hutchinson £60 by cheque
30. Nov Sold goods on credit to Flanagan: £500
Step by Step Answer:
Introduction To Financial Accounting
ISBN: 978-0077138448
7th edition
Authors: Anne Marie Ward, Andrew Thomas